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After finding a new job as a recent graduate you decided to buy a new car. To finance the purchase you borrowed $41,894 at an
After finding a new job as a recent graduate you decided to buy a new car. To finance the purchase you borrowed $41,894 at an interest rate of 5.23%. You will be making monthly payments for 6 years to pay this loan. From your first monthly payment, how many dollars will be allocated to the principal? Round to the nearest penny and enter your answer in the box below. Question 30 2 pts Your great-uncle Buford passed away. You didn't really know him. But you found that he left you $729,902 in his will. You have decided that you wanted to invest that money, and not touch it until it has grown to $1,000,000. If you believe you can earn 7.60% per year on your investment portfolio, how long will it take for your original investment of $729,902 to turn into $1,000,000? (Please respond in years. with two significant decimal points - e.g. 8.45 for 8.45 years)
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